Iron ore stockpiles at Chinese ports hit new high - BBG

Iron-ore stockpiles at Chinese ports hit a new high, rising +3.3% to 123.5mln tons. This marks the biggest weekly percentage gain in fifteen months, Livesquawk reports data compiled by Bloomberg.

Analysts at Citi expect iron-ore prices to retreat sharply to $ 53/ ton in 2H 2017.

The AUD/USD pair remains better offered as the aforementioned news is a negative input for the prices, while investors’ focus remain on the RBA policy decision due out shortly.